Virginia

Virginia joined the legal sports betting market in early 2021, and bettors can access a wide range of mobile betting apps or visit four retail betting facilities throughout the state.

The rules surrounding betting on college sports in Virginia require extra attention from bettors in the state. The biggest of these rules is that bettors cannot wager on in-state college, even if they are playing in a big tournament. Additionally, prop bets on college athletes are strictly prohibited, and that goes for all college athletes, not just the members of Virginia-based universities.

Other betting markets unavailable in VA include greyhound racing, politics, and eSports contests. On the bright side, the option to bet on horse races in person or through racebooks is available, as is the ability to download and use big-name daily fantasy sports apps.

Online Sports Betting in Old Dominion

Soon after PASPA was overturned in 2018, the Virginia Senate commissioned a study to investigate the possible revenue the state could make from legalizing sports betting. The study's results showed that legalization would be highly lucrative for the state, so by April 2020, two sports betting bills, SB 384 and HB 896, were passed.

Legal sports betting would see the light of day in Virginia in January 2021. While the state’s sports betting bill would allow for both mobile and retail wagering, because VA did not have any casinos prior to the bill being passed, residents’ first taste of sports betting came strictly from online sportsbooks.

After some provisions were made to the initial sports betting bill, it was determined that 18 online sportsbooks could operate in the state at once, thanks to the licensing landscape. While 18 are allowed in the market, as we progress into 2024, 12 mobile sports betting apps are currently available to VA bettors.

Not only does the market's landscape allow bettors to secure the best possible odds and promotions, but it also gives them access to the biggest names in online sports betting. These names include Bet365, BetMGM, DraftKings, BetRivers, Caesars, FanDuel, and plenty more.

Three of these operators have partnerships with retail casinos, while the fourth, Headwaters Casino, has not yet announced a partner. This suggests that another operator could enter the market before 2025.

All legal VA sports betting apps in 2024 (from newest to oldest):

Recently Closed Online Sportsbooks

Sports betting & gambling legislation in VA

Any sports betting regulations in VA are enforced by the Virginia Lottery. One of those rules includes the legal age to place a sports wager, which is currently set at 21 years old. Virginia sports bettors do have the benefit of remote registration, so they are not restricted to a retail facility just to create a mobile betting account. All the mobile betting apps in VA can be downloaded on Android or Apple devices and accessed from anywhere inside the state.

When using one of the aforementioned mobile betting apps, bettors should be aware of the tax rate on their winnings on those apps. The tax rate a bettor is subject to depends on their income, as all gambling winnings in VA are considered taxable income. The lowest rate an individual may be subject to is 2%, while the highest tax rate in the state is 5.75%.

Over the past few years, lawmakers have attempted to pass bills that would allow bettors to wager on in-state colleges, but these attempts were unsuccessful. Regardless of the success of these bills, it is clear the state will continue to add to its betting legislation, which could result in a conversation around iGaming, which remains illegal in VA.

Most recent updates from the VA sports betting scene

• September 13, 2024: With a chance to move to 3-0, the Virginia Cavaliers will host the Maryland Terrapins. The Cavaliers are currently (+1.5) point home underdogs.

• September 3, 2024: After losing outright as a (-13.5) point favorite over Vanderbilt, the Virginia Tech Hokies will return home to host Marshall as (-20) point favorites.

• August 26, 2024: The Virginia Cavaliers have named quarterback Anthony Colandrea as the starter for the upcoming season. The Cavaliers are currently (-18.5) point favorites over Richmond in week one.

• August 6, 2024: 2024 FCS National Championship odds have been released by DraftKings, and University of Richmond currently has the 12th best odds to win at (+7500).

• July 15, 2024: Two former Virginia Cavaliers baseball players, Griff O'Ferrall and Ethan Anderson, were selected on the first day of the MLB draft by the Baltimore Orioles.

• June 27, 2024: Former Virginia Cavaliers basketball player Ryan Dunn was selected with the 28th pick in the 2024 NBA Draft.

• June 17, 2024: Following a loss to Florida State, the Virginia Cavaliers have been eliminated from the 2024 College World Series.

• June 10, 2024: With two wins over Kansas State in the super-regionals, the Virginia Cavaliers will be headed to the College World Series. They are currently (+1000) to win the National Championship on FanDuel.

• June 3, 2024: The Virginia Cavaliers baseball team won their regional and will now host Kansas State in the Super Regionals. They are now (+1600) to win the College World Series.

• May 30, 2024: Both VCU and James Madison have made the regional round of the 2024 College World Series. James Madison is (+600) to win the Raleigh regional, and VCU is (+1200) to win the Greenville regional.

In-person sports betting sites and locations

One key provision in Virginia’s sports betting law is that retail betting is legal, but it is to be limited to just three land-based casinos in the state. Additionally, the cities where these casinos were to be located needed to pass a referendum that would allow them to open, which is why VA currently only has four casinos instead of five.

Richmond was the lone city to vote against opening a casino, leaving Bristol, Danville, Norfolk, and Portsmouth as the four casino locations. However, the plans regarding Norfolk’s HeadWaters Resort & Casino have faced some setbacks, and it’s currently unclear when or if this casino could open for the public.

While most states also require mobile operators to partner with retail locations, that is not the case in Virginia, as these casinos can partner with an online operator or open their own sportsbook.

Sports betting in neighboring states

Virginia is part of a large section of states that all offer legalized sports betting in some fashion. While some surrounding states only offer mobile or retail betting and not both, Virginia residents can still venture into any of their five neighboring states and place a legal bet.

Click on the states in the box below to read more about their gambling regulations and offerings.

Sports betting revenue impact on Virginia's economy

Virginia sports betting legislation allows for 18 licenses to be granted in total. There are 12 online-only licenses, five casino licenses, and one license for a professional sports organization in VA.

These licenses last three years, and they cost sportsbooks $250,000 once they are approved for one. All of these sportsbooks also have a 15% tax rate on revenue, which has resulted in the state accumulating over $135 million in tax income since sports betting was launched in 2021.

Regarding the total amount of handle, revenue, and tax income accumulated since legalizing sports betting, Virginia is in the top ten states in all three categories. Since they launched sports betting in 2021, only five states have produced more tax revenue than Virginia, and their position inside the top ten of all three categories likely isn’t changing anytime soon.

Top 3 sportsbooks in the state in June 2024:

1. FanDuel: (Handle: $157.3m, Revenue: $21.3m)

2. DraftKings: (Handle: $120.1m, Revenue: $11.5m)

3. BetMGM: (Handle: $43.4m, Revenue: $3.7m)

Virginia sports betting record months:

• Sports betting handle: January 2024 ($652,879,750)

• Revenue: January 2024 ($67,507,323)

• Tax income: January 2024 ($9,932,122)

VA sports betting revenue in 2024

The following table shows the monthly reported data from the Virginia Lottery from 2024, including total handle, betting revenue, state's tax income, as well as the percentage regarding how the first two have changed compared to the previous month.